Palo Alto

What does it cost to buy a 4 bedroom, 2 bath home in the West Valley areas of Silicon Valley?

It can be really challenging for people moving to Silicon Valley to get a sense of pricing for home buying. So to compare “apples to apples,” let’s take a hypothetical case of a 4 bedroom, 2 bath home of approximately 2,000 SF house (appx 185 square meters) and see how the cost looks in one area versus another.

Today I compared several areas and cities using the same formula: homes of 1800 – 2200 SF, 3-5 bedrooms, 2-3 bathrooms, on lot sizes of 6000 SF to 10,000 SF that have sold within the last 90 days (120 days when there’s less inventory). Here’s how it shakes out in the “west valley areas” along the Highway 85 corridor. What areas are most affordable? One way of analyzing this is the “price per square foot” figure. How competitive is it? Have a look at the DOM or “Days on Market” figure.  All of these days on market are short, but they range from low to heart-skipping fast. Please also note that while most of these numbers are working on a handful of sales, Saratoga had only one over the last 3 months that fit the criteria, so the data may not be as accurate in that row.

How much have prices changed? That really depends on where you live, or where you want to live. Below is a flashback to March 2017.  Do you notice the difference in ordering? A couple of markets have switched places, Sunnyvale and Saratoga, but there’s not too much different. For the most part, rankings have changed very little.

This next chart was from last March.

In most cases, the most expensive and desirable places have either the best schools or shortest commute location. Had I ranked these for school scores, you’d find that Cambrian is fairly high up and a good “bang for the buck” location – though not a super short commute for folks who work in Mountain View (though not so bad for people working in Cupertino). None of these is especially close to North San Jose (Cisco).

What about a little longer term? What did this look like in 2013? Click through to see. Continue reading

The most expensive places to live in Silicon Valley

High end communities collageIf you’re moving to pricey Silicon Valley, your goal may not be to find the very most expensive places to live.  However, if you are coming here and looking for great schools, it’s very likely that the list of places with fantastic public schools will overlap considerably with that of expensive real estate.

A couple of weeks ago, the Business Insider compiled a list of the 20 most expensive zip codes in the area, and also compared the median sale price in 2014 with that of the same zips in 2013 so you can see how much prices are rising.  These are the median sale price and does not reflect cost per square foot.  If you want a 2,000 SF house, you may not easily find it in the toniest areas!

Their 2014 Silicon Valley areas include zip codes within Atherton (94027 median sale price $3.9 million in 2014) , Los Altos Hills, Palo Alto, Portola Valley, Hillsborough, Saratoga, Cupertino, Los Gatos, Menlo Park, Sunnyvale, Mountain View, Redwood City, Belmont, San Carlos, and the Almaden Valley area of San Jose (95120, median sale price $1.177 mil in 2014).  Since it’s by zip code, some towns or cities show up twice, for more and less costly parts of that community.

Surprising omissions are Woodside and Los Altos.

Not sure how Almaden could be more costly than those two areas, but this is the list they compiled.  Read the whole article with the specifics here:

The 20 Most Expensive Zip Codes In Silicon Valley

Which Silicon Valley areas are the most European feeling?

Beckwith Building in downtown Los Gatos, California

The beautiful Beckwith Building in downtown Los Gatos, California

I have been fortunate to have made 5 trips to Europe, one of them lasting 9 months, and will be returning again before the end of 2013 (this time to Belgium).  It is so diverse, beautiful and compelling! Having experienced a little culture shock myself (when living in Florence, Italy, for one year of university), I’m very sympathetic about how hard an international move can be, and I understand that for Europeans moving to Silicon Valley, there can be an acute culture shock, particularly for those coming from more rural areas.

The bulk of Silicon Valley is located in Santa Clara County, which is at the southern end of the San Francisco Bay.  In this county, there are approximately 1.8 million people, almost a million of them in the city of San Jose.  Some areas, or districts, of San Jose have a distinctive character and are almost like towns or small cities themselves.  So in this article I’ll mention both cities and towns, but also areas or districts of San Jose, which might appeal to our European transplants.   Most of my comments will reference Santa Clara County or “south bay” locations, but I will also mention others on the San Francisco Peninsula and SF Bay Area too.

Architecture, Urban Centers and Charm

It is an unfortunate negative in Silicon Valley that much of our housing consists of ranch style tract homes, and truthfully, they are not exactly a work of art.  New or newer homes tend to be on very tiny parcels of land (or “lots”) and for many people may simply feel too congested or crowded. But there are beautiful residential neighborhoods – you just need to know where to look!  In many ways, the areas with higher charm can make our global home buyers feel more comfortable than if they were faced with only track, ranch neighborhoods.

Do you value unique, older architecture with Victorian, Craftsman, Tudor or other home styles? Then check out these areas:

  • Within San Jose: the Japantown, Vendome, and Naglee Park areas of downtown San Jose. Also in central San Jose are the Rosegarden, Shasta Hanchett and Burbank neighborhoods which all boast some lovely older homes.  Or, if you love classic Spanish Revival style homes with views, consider the old Alum Rock area of San Jose near the country club (golf course).  The Willow Glen area of SJ (zip code 95120) is full of lovely old established neighborhoods with historic homes and tree lined streets.  If your job takes you to downtown San Jose, all of these areas will be fairly close.
  • If you want a rural, eclectic atmosphere, check out the “New Almaden” area of San Jose.  This is actually a county pocket with a San Jose mailing address.
  • Other towns or cities with older, more interesting architecture include the “downtown” ares of Los Altos, Palo Alto, Los Gatos, Campbell, Mountain View, Saratoga and Menlo Park (in San Mateo County, just north of Palo Alto).
  • If work will be on The Peninsula, there are many areas nearby that may work.  San Mateo has some fantastic neighborhoods!  Also San Francisco, which is tiny but full of beautiful areas, may be a strong draw (I do not sell there – it’s too far for me).   Warning: the weather in San Francisco is very often COLD in summer!
  • Across the bay, Berkeley has some great Victorian and other homes and several really interesting pockets, as does parts of Oakland.  (I do not work these areas either as they are too far for me, but I did live in Berkeley in graduate school and can connect you with a great agent there.)
If what you want is a “walk to town“, urban experience, many of the areas above will work for you.  Additionally, there are a couple of more recently built areas that might appeal to you – Santana Row in San Jose (along the Santa Clara border) or the Rivermark area of Santa Clara off of highway 237, close to the bay.

More affordable homes to buy or rent in Silicon Valley with better schools

This morning I received an email from folks wanting to find a good area in which to move where they’ll have good schools but not pay the kind of prices they see in Palo Alto.  Below is my response to them.  I focus on Santa Clara County, and in particular the west valley areas from Los Altos to Almaden Valley or Blossom Valley areas of Willow Glen to Downtown San Jose, Santa Clara, Campbell, and back toward Los Gatos and its nearest parts.  Below is my response – hope it is helpful to many of my readers!   (The list is not exhaustive.)

The easiest way to check school scores is to use the site www.SchoolAndHousing.com.  It’s good for showing what house has which schools.  The home search feature is not very good, though, so don’t use that.  Best for home searching is www.MLSListings.com, as it is the public branch of our agent MLS and it is updated continuously.   Something to consider, though, is that the school scores do not tell the entire story.  There are many factors to include in your evaluation of a school, such as the variety of coursework offered (some schools may not have art or music, for instance), the availability of sports (for a balanced upbringing) and the overall feeling of a school (are the kids happy or are they overly pressured into excellence at a very young age?).  For many of these things, the best approach is to visit the schools personally and request a tour.  See if you can chat with the parents who are waiting to pick their kids up after school to hear about their experiences.  And of course read reviews online.

In terms of general areas to consider for schools near Mountain View, Palo Alto or Sunnyvale, in general, the better the schools, the more expensive the housing (whether to buy or to rent).  Hence Palo Alto is extremely pricey because the schools are absolutely top. Here are some communities that have great schools or good to very good schools:
  1. Palo Alto (very costly)
  2. Cupertino (less expensive for the school scores compared to other areas up to #5 on this list)
  3. Saratoga (very expensive)
  4. Los Altos & Los Altos Hills
  5. Los Gatos & Monte Sereno (95030 & 95032)
  6. Parts of San Jose in Cambrian 95124 and Almaden 95120 (very good value)
  7. The Los Gatos Mountains (zip code 95033)
  8. Parts of Fremont (Mission San Jose area)
Also it should be noted that in many cases, it makes more economic sense to utilize private schools and to live in an area which is a little less costly, such as Santa Clara (part of SC has Cupertino schools, so that will be expensive) or parts of San Jose (part of west San Jose 95129 has Cupertino schools, and part does not).  Many of my global clients initially do not see private schools as an option, for fear that all the kids in them will be from wealthy families and spoiled.  But often that is not the case at all – the kids are from families who like the curriculum, the teachers, the overall approach of the school and literally make sacrifices to send their kids there.  So I would advise that you at least have a look at that option since homes in the areas with the very best schools can be extremely costly.

Where to find historic homes in the San Jose and Silicon Valley area?

Mediterranean style home from the 1920s in Naglee Park (downtown San Jose)Sometimes newcomers to Silicon Valley strongly prefer older homes, such as Victorians, Craftsman, or other distinctive architectural styles, preferably surrounded by homes of the same vintage.  Most of the valley is filled with ranch style housing, but there are quite a few neighborhoods which enjoy historic home which exude tons of charm.  Where to find them?

San Jose’s historic homes

San Jose is a large city (10th largest in the United States, almost 1 million residents) and very spread out with a wide diversity of neighborhoods.  Here are a few to consider for classic, older properties:

In central San Jose there are quite a few areas to check out:

(1) Downtown San Jose generally, but within that area
Naglee Park
Japantown
Vendome areas
(2) the Shasta-Hanchett neighborhood
(3) the Rosegarden area (close to Shasta Hanchett, both in “central San Jose”)
(4) Alum Rock in east San Jose – up into the foothills there are lovely, older Spanish style homes
(5) Willow Glen – close to downtown SJ, features all sorts of architectural styes, from mid-century modern to Spanish, Victorian, Tudor – you name it. Within Willow Glen, The Palm Haven neighborhood has the added charm of so many palm trees (very visible when flying into the San Jose airport)

There are many more scattered throughout San Jose and nearby suburbs, even in places like Cambrian Park or Almaden (away from the old mercury mining area), where it seems all the houses were built from the 1950s to the 1980s.  When we see a hundred year old house in this area, it’s very likely that it used to be the house on a large ranch, orchard or farm.

Los Gatos

Waterman house on Broadway in Los GatosThe town of Los Gatos is far smaller than neighboring San Jose, but has a great assortment of historic districts that are beautifully maintained and tastefully updated, most of them right in downtown.  I’ve written about these on my Live in Los Gatos blog, so here are a few links to those neighborhood posts:

Edelen District

Almond Grove District

Broadway – first subdivision in Los Gatos

Overlook Road

Fairview Plaza

 

Palo Alto

Palo Alto enjoys some of the most beautiful, gracious older houses in Silicon Valley, particularly the Professorville and Old Palo Alto areas, but others too.  Drive the neighborhoods between Stanford University (El Camino Real) and 101 and you’ll find lots of historic homes to love!  The challenge is affordability, as these are the most expensive historic homes in the region.

There are many more lovely older homes throughout Santa Clara and San Mateo Counties and nearby.  If you enjoy these classic beauties, watch for a series of spring home tours which become available beginning in around March each year.  Most of them will cost a few dollars, with proceeds going to a worthy local charity.  If you’re interested in purchasing an historic property, visit my “search by map” page and enter a “built before” year and then scroll around the valley to see what is available.

Mary Pope-Handy
Realtor,
CIPS, CRS, ABR, SRES
Sereno Group
214 Los Gatos-Saratoga Rd.
Los Gatos CA 95030
[Silicon Valley, California, USA]
1-408-204-7673
mary (at) popehandy.com
CA BRE # 01153805

CIPS - Certified International Property Specialist
CRS - Certified Residential Specialist
ABR - Accredited Buyer Representative
SRES - Seniors Real Estate Specialist

Helping nice folks to buy and sell homes in Silicon Valley since 1993. Mary Pope-Handy, Realtor, Silicon Valley
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